8 Ways to Commit Grand Corruption (Part 2)

Large bribes paid to public officials are difficult to track. Hardly ever are the bribes delivered in suitcases of cash  – although that has been known to happen. More often than not, bribes are paid through bank transfers made to “corporate vehicles” – companies, foundations and trusts – that have been set up to conceal illegally acquired wealth. As The Puppet Masters, a recent study by the World Bank, says, there’s a whole industry of  “service providers” – law firms, notaries and secretarial companies – that exists mainly to help clients hide  illegally acquired assets by setting up companies and other structures that obscure their real ownership. Read the rest of this entry »

Advertisements